First Republic Bank shares fall more than 40% after volatility pause

I believe this is a volatility halt initiated by the New York Stock Exchange, not a halt for news pending. Shares of the bank are getting obliterated today, down $7.10, or 44.4%, to $8.90. They closed at $16 yesterday ahead of earnings but deposit outflows were worse than anticipated and it's looking like a zombie bank.

I'm not sure if the company thought it could spin its way out of this mess and buy time but the market is saying that it needs a suitor sooner rather than later.

The company didn't take any questions from analysts in yesterday's quarterly conference call.

"We are pursuing strategic options Options Options represent a contract that enables investors to buy or sell underlying instruments such as security, exchange-traded funds (ETFs) or indices at a certain price over a certain period of time. Buying and selling options can be done on the options market, which trades contracts based on securities. When trading options, the price of the option is thus a percentage of the underlying asset or security.Investors who purchase an option are able to buy shares at a later time and are known as a ca Options represent a contract that enables investors to buy or sell underlying instruments such as security, exchange-traded funds (ETFs) or indices at a certain price over a certain period of time. Buying and selling options can be done on the options market, which trades contracts based on securities. When trading options, the price of the option is thus a percentage of the underlying asset or security.Investors who purchase an option are able to buy shares at a later time and are known as a ca Read this Term to expedite our progress while reinforcing our capital position," the company said.

Bloomberg reports that the company is looking at up to $100 billion in asset sales and a possible equity raise.

Despite this and the risk tone, other regional banks are holding up ok with the KRE regional bank ETF ETF An ETF, or Exchange-Traded Fund, is a type of investment fund that is traded on stock exchanges just like individual stocks. ETFs are designed to track the performance of a specific index, commodity, or basket of assets. For example, a stock market ETF may aim to replicate the performance of a particular stock index, such as the S&P 500. A well-known version of this is SPY. A commodity ETF might track the price of gold or oil, while a bond ETF could follow the performance of a specific bond An ETF, or Exchange-Traded Fund, is a type of investment fund that is traded on stock exchanges just like individual stocks. ETFs are designed to track the performance of a specific index, commodity, or basket of assets. For example, a stock market ETF may aim to replicate the performance of a particular stock index, such as the S&P 500. A well-known version of this is SPY. A commodity ETF might track the price of gold or oil, while a bond ETF could follow the performance of a specific bond Read this Term down 3.9%, however it's now beginning to deteriorate and is worth watching carefully on the possibility of further extending the broad rout.